On H4 chart we can see that USDJPY has fallen below 20 MA and 50 MA. Meanwhile, 20 MA and 50 MA are falling on H1 chart and the price is moving below them. Therefore, my bias on USDJY is bearish bias. Our confluence zone is at the range of 108.999-109.313.

My plan is to go short on USDJPY on bearish signal confirmation on a pull-back move to within the intraday confluence zone with 108.805 as target and 108.491 in extension.

Be careful if the market managed to break above 109.313 because it will turn the bias to bullish and possibly will push USDJPY up to 109.507-109.821.

Plan: Sell on bearish setup confirmation within 108.999-109.313; target at 108.805 or 108.491


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